Iranian Vehicle Market in September 2023 falls for the 2nd month in a row, reporting 76,891 new registrations (-17.7%). YTD figures at 809,195 are up 0.2% from the previous year.
Car Market Trend and Outlook
The Iranian vehicle market in September 2023 falls for the 2nd month in a row, reporting 76,891 new registrations (-17.7%). YTD figures at 809,195 are up 0.2% from the previous year.
The market is dominated by three main brands: in 1st ranks Saipa with 325,850 cumulative sales in the first 3 quarters of 2023 (-5.3%) and 40.3% market share, followed by Peugeot with 248,294 units sold up to September (-6.5%) and 30.7% share. The local Manufacturer Iran Khodro ranks in 3rd with 21.9% market share and 176,906 new vehicle registrations (+18.9%).
The Saipa Pride/100-Series is the best selling model down 1.3% in volume, followed closely in second by the Saipa Quick (-9.6%).
Medium-Term Market Trend
The Iranian automotive industry would be one of the Top 15 in the World, considering the huge local production and the Iranian rule in the Middle East. However, the diplomatic war against Western countries with reiterated sanctions, have disrupted the industry in the recent years.
Following the 2014 Ginevra agreement, which allow to stop sanctions, the car market boomed over 1.5 million, but when President Trump decided to unilaterally ignore that agreement, reaffirming the sanctions status, the domestic economy was hit and so the car market.
In fact, the market lost volume in double digits in 2018 and 2019, reaching 793,891 total sales by the end of 2019 (-33.5%).
The pandemic didn’t affect vehicle sales in Iran, on the contrary the light vehicle sales surged 14.1% in 2020 to 905,643. In 2021 new vehicle registrations remained relatively flat, but in 2022 the market gained another 15.2% finally rising above the 1 million mark.
Tables with sales figures
In the tables below we report sales for Top Brands